Penny Stock Under Rs 20: This Oil Exploration Stock Hits Upper Circuit & 52-Week High Today; Q4 FY24 Net Profits Surge by 230 per cent: Must Watch!

Aakash Exploration Services Limited, established in 2007, is a company that specializes in providing services to the oil and gas sector. The company has successfully reduced its debt from Rs 24.18 crore to Rs 18.11 crore, a decrease of around 25 percent.

Aakash Exploration Services Limited is certified under ISO 9001, 14001, and OHSAS 18001, ensuring high standards in its operations. The company offers comprehensive exploration services for oil and gas fields, with a focus on the production stage following land survey and drilling processes. To enhance production efficiency, Aakash Exploration Services Limited utilizes various equipment such as Air Compressors, Coil Tubing Units, Work Over Rigs, and SRP Units. Once oil is extracted, it is transported to refineries for further processing.

In the latest trading session, the stock of Aakash Exploration Services Limited opened at Rs 15.57 per share, showing an increase from the previous day’s closing price of Rs 14.16 per share on the NSE. The stock has reached the upper circuit price limit of 10 per share, indicating strong demand in the market.

In the Quarterly Results for Q4 FY24, Aakash Exploration Services Limited reported a quarterly revenue from operations of Rs 30.89 crore, with a net profit of Rs 3.51 crore compared to Rs 1.06 crore in the previous quarter. For the full fiscal year FY24, the company reported a revenue of Rs 92.23 crore and a net profit of Rs 6.21 crore, an improvement from the previous year.

The shareholding pattern of Aakash Exploration Services Limited shows that promoters own 66.67 percent of the company, while the public or retail investors hold 33.30 percent. Investors are advised to keep an eye on this micro-cap stock for potential opportunities.

Disclaimer: This article is for informational purposes only and should not be considered investment advice.